Episode 36: Chairman's Address

While the LEC is, of course, a North Dakota trade association, its impacts stretch far beyond the borders of just our state.

And we're having a national impact, as I will talk about and a number of other of the speakers will talk about over the next day.

A number of our board members and our CEO, Jonathan, have been appointed to the National Coal Council by President Trump himself.

Jonathan has been instrumental in representing the interests of the North Dakota coal industry on the National Coal Council.

The National Coal Council's recent report to the Secretary of Energy, Chris Wright, is titled Maximizing the Value of the U.S. Coal Fleet.

And that report was effectively ghostwritten in large part by Jonathan Fortner, our CEO.

This report will help shape the national policy for at least the remainder of the Trump administration.

So speaking of national policy, this Friday, we will solemnly remember the lives that were lost a quarter century ago on September the 11th of 2001. the historic implications to America's military and foreign policies are still being determined and still unfolding from September the 11th.

However, The impact to the United States' national policies is clear, and it's an unequivocal success.

Over the past quarter century, regardless of the administration and power, maybe the most consistent national policy in the United States has been one of energy independence since September 11th.

US energy independence does not occur without the people in this room.

The equipment, coal, and electrons we produce have powered the Bakken.

Without the Bakken, the United States is not energy independent.

So I think that's something that we can all, both individually, corporately, and collectively, be very, very proud of.

The development of the Bakken has made North Dakota's electricity consumption grow faster than any other state on a percentage basis over the past decade.

North Dakota, we're up about 60% in consumption.

If you look at the next largest states like Virginia, New Mexico, and Texas, they're up less than half of that 60% in consumption.

Despite the cost of growth that many of us are familiar with, new equipment, for example, costs much more than older equipment that has been on our balance sheet for a considerable number of years.

But despite these costs of growth, North Dakota maintains the lowest average electricity rates in the country as of 2024.

That is from the Energy Information Administration of the United States government, and the 2025 numbers will be out in late October or early November.

Now, that's another example where we can all be very proud of what we all bring to the value or to the coal value chain as a state and then based on our individual and corporate contributions as well.

While the LEC is, of course, a North Dakota trade association, its impacts stretch far beyond the borders of just our state.

And we're having a national impact, as I will talk about and a number of other of the speakers will talk about over the next day.

A number of our board members and our CEO, Jonathan, have been appointed to the National Coal Council by President Trump himself.

Jonathan has been instrumental in representing the interests of the North Dakota coal industry on the National Coal Council.

The National Coal Council's recent report to the Secretary of Energy, Chris Wright, is titled Maximizing the Value of the U.S. Coal Fleet.

And that report was effectively ghostwritten in large part by Jonathan Fortner, our CEO.

This report will help shape the national policy for at least the remainder of the Trump administration.

So speaking of national policy, this Friday, we will solemnly remember the lives that were lost a quarter century ago on September the 11th of 2001. the historic implications to America's military and foreign policies are still being determined and still unfolding from September the 11th.

However, The impact to the United States' national policies is clear, and it's an unequivocal success.

Over the past quarter century, regardless of the administration and power, maybe the most consistent national policy in the United States has been one of energy independence since September 11th.

US energy independence does not occur without the people in this room.

The equipment, coal, and electrons we produce have powered the Bakken.

Without the Bakken, the United States is not energy independent.

So I think that's something that we can all, both individually, corporately, and collectively, be very, very proud of.

The development of the Bakken has made North Dakota's electricity consumption grow faster than any other state on a percentage basis over the past decade.

North Dakota, we're up about 60% in consumption.

If you look at the next largest states like Virginia, New Mexico, and Texas, they're up less than half of that 60% in consumption.

Despite the cost of growth that many of us are familiar with, new equipment, for example, costs much more than older equipment that has been on our balance sheet for a considerable number of years.

But despite these costs of growth, North Dakota maintains the lowest average electricity rates in the country as of 2024.

That is from the Energy Information Administration of the United States government, and the 2025 numbers will be out in late October or early November.

Now, that's another example where we can all be very proud of what we all bring to the value or to the coal value chain as a state and then based on our individual and corporate contributions as well.